LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

milind   04 March 2018

Sale agreement problem while purchasing flat from landowner

I am about to purchase a flat in a completed project (completed 2 years ago) from the landowners share of flats,directly from the landowner.

The project is a joint development between the builder and the landowner and they have registered the Joint Development Agreement(JDA).

The JDA does not have the list of flats and allotment mentioned in it but only undivided share of land in percentage is mentioned.

The list of flats and allotment of flats is mentioned in another supplementary agreement which is unregistered.

I was given a draft copy of the sale agreement by the landowner in which the landowner is Vendor and builder is consenting party.

I showed this to my lawyer,who said that the builders name should be mentioned in the first/front page as part of the Vendor as the supplementary agreement is not registered.The builders name is mentioned in the middle pages as consenting party and also states that they handover posession of the flat to the purchasers(me) at the direction of the Vendor.

Now when I contacted the landowner and mentioned this to him,his legal expert is saying that it does not matter if the builder's name is not on the first page as part of the Vendor and that they have used this same format to sell other flats of the landowner.

But my lawyer is saying that it is important so that I dont face problems in future in case if I have to sell the flat.

My lawyer says that I can go ahead and purchase the flat at my own risk.

Will it be a problem if I go ahead?



Learning

 3 Replies

R.Ramachandran (Advocate)     04 March 2018

If you have satisfied yourself about the property being free of encumbrance from all other aspects, GO AHEAD.  The points you mentioned about the builder name not having been mentioned in the first/front page would not in any way affect your clear title.  If I were in your position, I will go ahead BLIND FOLDEDLY.

 

1 Like

Kumar Doab (FIN)     04 March 2018

The other lawyer has provided is/her legal opinion in writing on his letter head showing registration details /under his seal and signature/by email!

One should go by legal opinion of one’s lawyer.

The lawyer that provides with dispassionate and sound  opinion without bothering for client may go to another lawyer is not greedy to bind the client.

If one wishes one may go for 2nd/3rd ... opinion from a very able senior LOCAL counsel of unshakable repute and integrity specializing in revenue/property/civil/DRT matters before signing or making payment.

This may cost some (more)  FEE but can defend long term interest and hard earned monies.

 

1 Like

milind   05 March 2018

Thank you for answering my query.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register